Singapore stock market
SINGAPORE shares opened higher on Friday (May 27), after Wall Street stocks rallied for a second consecutive day.
The Straits Times Index (STI) rose 0.6 per cent or 19.23 points to 3,228.41 as at 9.03 am. Gainers outnumbered losers 101 to 24, after 49 million securities worth S$58 million changed hands.
The most actively traded counter by volume wasSembcorp Marine : S51 0%, which saw 14.3 million of its shares worth S$1.6 million traded at 9.03 am. Its shares were up S$0.001 or 0.9 per cent at S$0.114.
Rex International: 5WH 0%also saw brisk trading, with 2.4 million shares worth S$710,000 changing hands. Its shares were up S$0.005 or 1.7 per cent at S$0.30.
Among index stocks,Singtel : Z74 -1.1%was actively traded, with 2.2 million shares worth S$6 million changing hands. The counter was down S$0.02 or 0.7 per cent at S$2.71.
The mainboard-listed telco on Friday reported S$994.5 million in net profit for the second half ended March 2022, up more than 10 times from S$87.6 million in H2 FY2021. A day earlier, Singtel shares had jumped as much as 4.5 per cent after the Economic Times reported it had initiated talks with Bharti Airtel chairman Sunil Mittal, to potentially sell a “small” part of its holding in the Indian telco to the Mittal family.
SEE ALSOSTI up 0.7% amid regional rally
The trio of local banks were up in early trade.DBS : D05 +0.23%rose S$0.22 or 0.7 per cent at S$31.25,UOB : U11 +0.93%was up S$0.29 or 1 per cent to S$29.40, whileOCBC : O39 +0.34%gained S$0.08 or 0.7 per cent to S$11.74.
On Thursday, the Monetary Authority of Singapore had imposed an additional capital requirement of about S$330 million on OCBC for its deficiencies in responding to a wave of spoofed SMS phishing scams in December 2021.
In the US,Wall Street stocks jumped Thursdayas strong results from retailers combined with investor bargain-hunting to produce a second straight positive session.
The Dow Jones Industrial Average piled on more than 500 points or 1.6 per cent to finish the session at 32,637.19. The broad-based S&P 500 gained 2 per cent to end at 4,057.84, while the tech-rich Nasdaq Composite Index advanced 2.7 per cent to 11,740.65.
Meanwhile,European markets rose on Thursdaywith the retail sector leading the charge as Britain revealed new stimulus plans, while the US Federal Reserve sticking to its monetary policy tightening script also bolstered risk appetite.
The pan-European Stoxx 600 index closed higher for a second straight session, up 0.8 per cent. Gains were largely broad-based, with retailers up 4.7 per cent.
Elsewhere in Asia,Tokyo stocks opened higher on Fridayas investors took heart from Wall Street rallies.
The benchmark Nikkei 225 index was up 1.3 per cent or 343.67 points at 26,948.51 in early trade, while the broader Topix index was up 1.1 per cent or 19.95 points at 1,897.53.
source：BT
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